Workiva Inc (WK)

Workiva Announces First Quarter 2026 Financial ResultsMay 5, 2026 4:05 PM
Business Wire Fiscal first quarter subscription & support revenue increased by 21% Total revenue was $247 million, up 20% year-over-year GAAP operating margin was 6.2%, non-GAAP operating margin was 18.4% Repurchased $50 million worth of Class A common stock under the 2024 share repurchase plan Workiva Inc. (NYSE: WK), a leading, AI-powered platform for trust, transparency, and accountability, today announced financial results for its first quarter ended March 31, 2026. “Q1 2026 was another strong quarter as organizations across every industry turn to Workiva as their platform of trust for the Office of the CFO,” said Julie Iskow, President & Chief Executive Officer. “In a world where AI is accelerating the pace of change, the tolerance for error in financial reporting, sustainability, and governance, risk and compliance is zero, and our customers increasingly rely on us to ensure that every number and every narrative is accurate, traceable, and audit-ready.” “Our first quarter results reflect strong execution across the business, with 21% subscription revenue growth and a non-GAAP operating margin of 18.4%, a 1,600 basis-point improvement compared to a year ago,” said Barbara Larson, Chief Financial Officer. “This level of margin expansion, while sustaining durable top-line growth, demonstrates the operating leverage we are building in the business and reflects the disciplined foundation we've established to drive growth at scale.” First Quarter 2026 Financial Results Revenue: Total revenue for the first quarter of 2026 reached $247 million, an increase of 20% from $206 million in the first quarter of 2025. Subscription and support revenue contributed $225 million, up 21% versus the first quarter of 2025. Professional services revenue was $22 million, up slightly from the first quarter of 2025. Operating Margin: GAAP operating margin for the first quarter of 2026 was 6.2% compared to (12.0)% in the prior year's first quarter. Non-GAAP operating margin was 18.4% compared to 2.4% in the first quarter of 2025. GAAP Net Income (Loss): GAAP net income for the first quarter of 2026 was $19 million compared with a net loss of $(21) million for the prior year's first quarter. GAAP net income per basic share and diluted share was $0.33, compared with a net loss per basic and diluted share of $(0.38) in the first quarter of 2025. Non-GAAP Net Income: Non-GAAP net income for the first quarter of 2026 was $49 million compared with non-GAAP net income of $8 million in the prior year's first quarter. Non-GAAP net income per basic share and diluted share in the first quarter of 2026 was $0.86 and $0.77, respectively, compared with non-GAAP net income per basic share and diluted share of $0.15 and $0.14, respectively, in the first quarter of 2025. Liquidity: As of March 31, 2026, Workiva had cash, cash equivalents, and marketable securities totaling $863 million, compared with $892 million as of December 31, 2025. Workiva had $71 million aggregate principal amount of 1.125% convertible senior notes due in 2026, $702 million aggregate principal amount of 1.250% convertible senior notes due in 2028, and $14 million of finance lease obligations outstanding as of March 31, 2026. Key Metrics and Recent Business Highlights Customers: Workiva had 6,665 customers as of March 31, 2026, a net increase of 280 customers from March 31, 2025. Retention Rate: As of March 31, 2026, Workiva's gross retention rate was 97%, and the net retention rate was 112%. Net retention includes changes in both solutions and pricing for existing customers. Large Contracts: As of March 31, 2026, Workiva had 2,575 customers with an annual contract value (“ACV”) of more than $100,000, up 24% from 2,079 customers at March 31, 2025. Workiva had 605 customers with an ACV of more than $300,000, up 38% from 439 customers in the first quarter of 2025. Workiva had 265 customers with an ACV of more than $500,000, up 39% from 191 customers in the first quarter of 2025. Share Repurchase Plan: On July 30, 2024, our board of directors authorized a share repurchase plan for up to $100 million of our outstanding Class A common stock. On February 16, 2026, our board of directors modified the repurchase plan to authorize an additional $250 million of the Company’s outstanding Class A common stock for repurchase under the plan. During the first quarter of 2026, Workiva purchased approximately 763,000 shares for $50 million under the plan. As of March 31, 2026, approximately $228 million remained available under the plan for future share repurchases. Financial Outlook As of May 5, 2026, Workiva is providing guidance as follows: Second Quarter 2026 Guidance: Total revenue is expected to be in the range of $250 million to $252 million. GAAP operating margin is expected to be in the range of 1.6% to 2.2%. Non-GAAP operating margin is expected to be in the range of 14.5% to 15.0%. GAAP net income per diluted share is expected to be in the range of $0.12 to $0.15 using 57.0 million shares. Non-GAAP net income per diluted share is expected to be in the range of $0.62 to $0.65 using 63.2 million shares. Full Year 2026 Guidance: Total revenue is expected to be in the range of $1.037 billion to $1.041 billion. GAAP operating margin is expected to be in the range of 3.8% to 4.3%. Non-GAAP operating margin is expected to be in the range of 16.0% to 16.5%. GAAP net income per diluted share is expected to be in the range of $0.89 to $0.99 using 57.1 million shares. Non-GAAP net income per diluted share is expected to be in the range of $2.85 to $2.95 using 62.3 million shares. Free cash flow margin is expected to be approximately 20%. Quarterly Conference Call Workiva will host a webcast today at 5:00 p.m. Eastern Time to review the Company’s financial results for the first quarter 2026, in addition to discussing the Company’s outlook for the second quarter and full year 2026. The call can be accessed by dialing 1-833-630-1956 (U.S. domestic) or 1-412-317-1837 (international). Additionally, a live webcast and replay will be available at https://investor.workiva.com/news-events/events. About Workiva Workiva Inc. (NYSE: WK) powers trust, transparency, and accountability. Accounting, finance, sustainability, risk and audit teams from more than 6,600 organizations, including over 85% of Fortune 1,000 companies rely on Workiva for their mission-critical work. We transform how customers connect data, unify processes, and empower teams in a secure, audit-ready, AI-powered collaborative platform. Learn more at workiva.com. Non-GAAP Financial Measures The non-GAAP adjustments referenced herein relate to the exclusion of stock-based compensation and amortization of acquisition-related intangible assets. A reconciliation of GAAP to non-GAAP historical financial measures has been provided in Table I at the end of this press release. A reconciliation of GAAP to non-GAAP guidance has been provided in Table II at the end of this press release. Workiva believes that the use of non-GAAP gross profit, non-GAAP income from operations and non-GAAP operating margin, non-GAAP net income, non-GAAP net income per share, free cash flow and free cash flow margin is helpful to its investors. These measures, which are referred to as non-GAAP financial measures, are not prepared in accordance with generally accepted accounting principles in the United States, or GAAP. Workiva’s management uses these non-GAAP financial measures as tools for financial and operational decision making and for evaluating Workiva’s own operating results over different periods of time. Non-GAAP gross profit is calculated by excluding stock-based compensation expense and amortization expense for acquisition-related intangible assets attributable to cost of revenues from gross profit. Non-GAAP income from operations is calculated by excluding stock-based compensation expense and amortization expense for acquisition-related intangible assets from loss from operations. Non-GAAP operating margin is the ratio calculated by dividing non-GAAP income from operations by revenues. Non-GAAP net income is calculated by excluding stock-based compensation expense, net of tax and amortization expense for acquisition-related intangible assets from net income (loss). Non-GAAP net income per share is calculated by dividing non-GAAP net income by the weighted- average shares outstanding as presented in the calculation of GAAP net income (loss) per share. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash expenses, Workiva believes that providing non-GAAP financial measures that exclude stock-based compensation expense allows for more meaningful comparisons between its operating results from period to period. For business combinations, we generally allocate a portion of the purchase price to intangible assets. The amount of the allocation is based on estimates and assumptions made by management and is subject to amortization. The amount of purchase price allocated to intangible assets and the term of its related amortization can vary significantly and are unique to each acquisition and thus we do not believe they are reflective of ongoing operations. Free cash flow, a non-GAAP measure, represents cash flow from operating activities less purchase of property and equipment. Free cash flow margin is calculated by dividing free cash flow by total revenue. We consider free cash flow and free cash flow margin to be liquidity measures that provide useful information to investors about the amount of cash generated or used by the business. Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in Workiva’s industry, as other companies in the industry may calculate non-GAAP financial results differently. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on Workiva’s reported financial results. Further, stock-based compensation expense has been and will continue to be for the foreseeable future a significant recurring expense in Workiva’s business and an important part of the compensation provided to its employees. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. Investors should review the reconciliation of non-GAAP financial measures to the comparable GAAP financial measures included below, and not rely on any single financial measure to evaluate Workiva’s business. Forward-Looking Statements Certain statements in this press release are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In particular, statements about the Company’s expectations, beliefs, plans, objectives, assumptions, future events or future performance contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential," "outlook," "guidance," "target," "goal," "project," "continue to," "confident," or the negative of those terms or other comparable terminology. Please see the Company’s documents filed or to be filed with the Securities and Exchange Commission, including the Company’s annual reports filed on Form 10-K and quarterly reports on Form 10-Q, and any amendments thereto for a discussion of certain important risk factors that relate to forward-looking statements contained in this report. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company’s control. These and other important factors may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Any forward-looking statements are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. WORKIVA INC.   CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share amounts)     Three months ended March 31,     2026       2025     (unaudited) Revenue       Subscription and support $ 225,355     $ 185,512   Professional services   21,951       20,768   Total revenue   247,306       206,280   Cost of revenue       Subscription and support (1)   35,183       34,062   Professional services (1)   13,362       14,280   Total cost of revenue   48,545       48,342   Gross profit   198,761       157,938   Operating expenses       Research and development (1)   52,913       53,780   Sales and marketing (1)   104,485       101,671   General and administrative (1)   26,042       27,237   Total operating expenses   183,440       182,688   Income (loss) from operations   15,321       (24,750 ) Interest income   8,103       8,747   Interest expense   (3,194 )     (3,195 ) Other income (expense), net   398       (233 ) Income (loss) before provision for income taxes   20,628       (19,431 ) Provision for income taxes   1,632       1,940   Net income (loss) $ 18,996     $ (21,371 ) Net income (loss) per common share:       Basic $ 0.33     $ (0.38 ) Diluted $ 0.33     $ (0.38 ) Weighted-average common shares outstanding       Basic   56,885,568       56,157,533   Diluted   58,441,679       56,157,533   (1) Includes stock-based compensation expense as follows:   Three months ended March 31,   2026   2025   (unaudited) Cost of revenue       Subscription and support $ 2,848   $ 2,433 Professional services   1,189     996 Operating expenses       Research and development   6,401     6,050 Sales and marketing   9,847     9,751 General and administrative   8,322     8,658 WORKIVA INC.   CONSOLIDATED BALANCE SHEETS (in thousands)     March 31, 2026   December 31, 2025   (unaudited)     Assets       Current assets       Cash and cash equivalents $ 334,260     $ 338,769   Marketable securities   529,116       552,852   Accounts receivable, net   138,109       168,984   Deferred costs   64,793       62,619   Other receivables   7,925       10,383   Prepaid expenses and other   33,939       28,778   Total current assets   1,108,142       1,162,385   Property and equipment, net   19,832       20,546   Operating lease right-of-use assets   10,577       13,986   Deferred costs, non-current   53,958       59,767   Goodwill   204,174       206,164   Intangible assets, net   21,511       22,270   Other assets   7,184       8,453   Total assets $ 1,425,378     $ 1,493,571   Liabilities and Stockholders’ Deficit       Current liabilities       Accounts payable $ 10,665     $ 8,932   Accrued expenses and other current liabilities   89,316       113,115   Deferred revenue   514,310       547,919   Convertible senior notes, current   71,140       71,072   Finance lease obligations   623       614   Total current liabilities   686,054       741,652   Convertible senior notes, non-current   696,807       696,263   Deferred revenue, non-current   35,001       37,305   Other long-term liabilities   102       92   Operating lease liabilities, non-current   6,965       10,472   Finance lease obligations, non-current   13,064       13,223   Total liabilities   1,437,993       1,499,007   Stockholders’ deficit       Common stock   57       57   Additional paid-in-capital   699,649       720,923   Accumulated deficit   (714,856 )     (733,852 ) Accumulated other comprehensive income   2,535       7,436   Total stockholders’ deficit   (12,615 )     (5,436 ) Total liabilities and stockholders’ deficit $ 1,425,378     $ 1,493,571   WORKIVA INC.   CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands)     Three months ended March 31,     2026       2025     (unaudited) Cash flows from operating activities       Net income (loss) $ 18,996     $ (21,371 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities       Depreciation and amortization   2,516       2,893   Stock-based compensation expense   28,607       27,888   (Recovery of) provision for doubtful accounts   (118 )     12   Accretion of premiums and discounts on marketable securities, net   (801 )     (1,695 ) Amortization of debt discount and issuance costs   612       610   Gain on lease modification   (307 )     —   Deferred income tax   (269 )     (64 ) Changes in assets and liabilities:       Accounts receivable   30,156       30,636   Deferred costs   2,878       4,093   Operating lease right-of-use assets   1,260       1,329   Other receivables   2,439       994   Prepaid expenses and other   (5,221 )     (5,653 ) Other assets   1,233       (648 ) Accounts payable   1,971       6,651   Deferred revenue   (33,255 )     (18,438 ) Operating lease liabilities   (1,167 )     (831 ) Accrued expenses and other liabilities   (23,054 )     (33,764 ) Net cash provided by (used in) operating activities   26,476       (7,358 )         Cash flows from investing activities       Purchase of property and equipment   (728 )     (763 ) Purchase of marketable securities   (91,501 )     (102,965 ) Maturities of marketable securities   114,350       94,614   Acquisitions, net of cash acquired   (750 )     —   Purchase of intangible assets   (26 )     (19 ) Net cash provided by (used in) investing activities   21,345       (9,133 )         Cash flows from financing activities       Proceeds from option exercises   729       631   Taxes paid related to net share settlements of stock-based compensation awards   (8,662 )     (12,922 ) Proceeds from shares issued in connection with employee stock purchase plan   8,052       7,535   Repurchases of Class A common stock   (50,000 )     (40,118 ) Principal payments on finance lease obligations   (150 )     (138 ) Net cash used in financing activities   (50,031 )     (45,012 ) Effect of foreign exchange rates on cash   (2,299 )     1,889   Net decrease in cash, cash equivalents, and restricted cash   (4,509 )     (59,614 ) Cash, cash equivalents, and restricted cash at beginning of period   339,481       302,350   Cash, cash equivalents, and restricted cash at end of period $ 334,972     $ 242,736     Three months ended March 31,   2026   2025   (unaudited) Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets       Cash and cash equivalents at end of period $ 334,260   $ 242,024 Restricted cash included within prepaid expenses and other at end of period   712     712 Total cash, cash equivalents, and restricted cash at end of period shown in the consolidated statements of cash flows $ 334,972   $ 242,736 TABLE I WORKIVA INC. RECONCILIATION OF NON-GAAP INFORMATION (in thousands, except share and per share)     Three months ended March 31,     2026       2025   Gross profit, subscription and support $ 190,172     $ 151,450   Add back: Stock-based compensation   2,848       2,433   Add back: Amortization of acquisition-related intangibles   996       909   Gross profit, subscription and support, non-GAAP $ 194,016     $ 154,792           Gross profit, professional services $ 8,589     $ 6,488   Add back: Stock-based compensation   1,189       996   Gross profit, professional services, non-GAAP $ 9,778     $ 7,484           Gross profit $ 198,761     $ 157,938   Add back: Stock-based compensation   4,037       3,429   Add back: Amortization of acquisition-related intangibles   996       909   Gross profit, non-GAAP $ 203,794     $ 162,276           Cost of revenue, subscription and support $ 35,183     $ 34,062   Less: Stock-based compensation   2,848       2,433   Less: Amortization of acquisition-related intangibles   996       909   Cost of revenue, subscription and support, non-GAAP $ 31,339     $ 30,720           Cost of revenue, professional services $ 13,362     $ 14,280   Less: Stock-based compensation   1,189       996   Cost of revenue, professional services, non-GAAP $ 12,173     $ 13,284           Research and development $ 52,913     $ 53,780   Less: Stock-based compensation   6,401       6,050   Less: Amortization of acquisition-related intangibles   —       495   Research and development, non-GAAP $ 46,512     $ 47,235           Sales and marketing $ 104,485     $ 101,671   Less: Stock-based compensation   9,847       9,751   Less: Amortization of acquisition-related intangibles   491       447   Sales and marketing, non-GAAP $ 94,147     $ 91,473           General and administrative $ 26,042     $ 27,237   Less: Stock-based compensation   8,322       8,658   General and administrative, non-GAAP $ 17,720     $ 18,579           Income (loss) from operations $ 15,321     $ (24,750 ) Add back: Stock-based compensation   28,607       27,888   Add back: Amortization of acquisition-related intangibles   1,487       1,851   Income from operations, non-GAAP $ 45,415     $ 4,989   GAAP operating margin   6.2 %     (12.0 )% Non-GAAP operating margin   18.4 %     2.4 %         Net income (loss) $ 18,996     $ (21,371 ) Add back: Stock-based compensation   28,607       27,888   Add back: Amortization of acquisition-related intangibles   1,487       1,851   Net income, non-GAAP $ 49,090     $ 8,368           Net income (loss) per basic share $ 0.33     $ (0.38 ) Add back: Stock-based compensation   0.50       0.50   Add back: Amortization of acquisition-related intangibles   0.03       0.03   Net income per basic share, non-GAAP $ 0.86     $ 0.15   Net income (loss) per diluted share $ 0.33     $ (0.38 ) Net income per diluted share, non-GAAP $ 0.77     $ 0.14           Weighted-average common shares outstanding - diluted   58,441,679       56,157,533   Weighted-average common shares outstanding - diluted, non-GAAP   63,684,917       58,480,150           Net cash provided by (used in) operating activities $ 26,476       (7,358 ) Purchase of property and equipment   (728 )     (763 ) Free cash flow $ 25,748     $ (8,121 ) Operating cash flow margin   10.7 %     (3.6 )% Free cash flow margin   10.4 %     (3.9 )% TABLE II WORKIVA INC. RECONCILIATION OF NON-GAAP GUIDANCE     Three months ending
June 30, 2026   Year ending
December 31, 2026                 GAAP operating margin   1.6 % -   2.2 %     3.8 % -   4.3 % Add back: Stock-based compensation   12.3 % -   12.2 %     11.6 % -   11.6 % Add back: Amortization of acquisition-related intangibles   0.6 % -   0.6 %     0.6 % -   0.6 % Non-GAAP operating margin   14.5 % -   15.0 %     16.0 % -   16.5 %                 Net income per diluted share, GAAP $ 0.12   - $ 0.15     $ 0.89   - $ 0.99   Add back: Stock-based compensation   0.54   -   0.54       2.11   -   2.11   Add back: Amortization of acquisition-related intangibles   0.03   -   0.03       0.11   -   0.11   Effect of potentially dilutive securities   (0.07 ) -   (0.07 )     (0.26 ) -   (0.26 ) Net income per diluted share, non-GAAP $ 0.62   - $ 0.65     $ 2.85   - $ 2.95                   Weighted-average common shares used in calculating GAAP earnings per share, diluted   57,000,000       57,000,000       57,100,000       57,100,000   Weighted-average common shares used in calculating non-GAAP earnings per share, diluted   63,200,000       63,200,000       62,300,000       62,300,000     View source version on businesswire.com: https://www.businesswire.com/news/home/20260505526534/en/ Investor Contact:
Katie White
Workiva Inc.
investor@workiva.com Media Contact:
Bill Bode
Workiva Inc.
press@workiva.com Original: Workiva Announces First Quarter 2026 Financial Results

Workiva Sets Date for First Quarter 2026 Financial Release and Conference CallApril 6, 2026 4:05 PM
Business Wire
Workiva Inc. (NYSE:WK), a leading, AI-powered platform for trust, transparency, and accountability, today announced that it will release financial results for the first quarter ended March 31, 2026 following the close of the market on May 5, 2026. The company will host a conference call and a live webcast to discuss its financial results.


The conference call will begin at 5:00 p.m. Eastern Time on May 5, 2026, and can be accessed by dialing 1-833-630-1956 (U.S. domestic) or 1-412-317-1837 (international). Additionally, a live webcast and replay will be available at https://investor.workiva.com/news-events/events.


About Workiva


Workiva Inc. (NYSE: WK) powers trust, transparency, and accountability. Accounting, finance, sustainability, risk and audit teams from more than 6,600 organizations, including over 85% of Fortune 1,000 companies rely on Workiva for their mission-critical work. We transform how customers connect data, unify processes, and empower teams in a secure, audit-ready, AI-powered collaborative platform. Learn more at workiva.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260406524360/en/
Media:

Bill Bode

Workiva Inc.

press@workiva.com


Investor:

Katie White

Workiva Inc.

investor@workiva.com


Original: Workiva Sets Date for First Quarter 2026 Financial Release and Conference Call

Workiva to Present at Upcoming Investor ConferencesFebruary 24, 2026 9:15 AM
Business Wire
Workiva Inc. (NYSE:WK), a leading, AI-powered platform for trust, transparency, and accountability, today announced its participation at the following events:



Raymond James 47th Annual Institutional Investors Conference: Barbara Larson, Chief Financial Officer, and Mike Rost, Chief Strategy Officer, will present on March 2, 2026 at 9:15 a.m. Eastern Time.




Morgan Stanley Technology, Media & Telecom Conference: Julie Iskow, President and Chief Executive Officer, will present on March 3, 2026 at 9:15 a.m. Pacific Time.



A live webcast and replay will be available for a limited time at https://investor.workiva.com/news-events/events.


About Workiva


Workiva Inc. (NYSE: WK) powers trust, transparency, and accountability. Accounting, finance, sustainability, risk and audit teams from more than 6,600 organizations, including over 85% of Fortune 1,000 companies rely on Workiva for their mission-critical work. We transform how customers connect data, unify processes, and empower teams in a secure, audit-ready, AI-powered collaborative platform. Learn more at workiva.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260224314702/en/
Media:

Bill Bode

Workiva Inc.

press@workiva.com


Investor:

Katie White

Workiva Inc.

investor@workiva.com


Original: Workiva to Present at Upcoming Investor Conferences

Workiva Announces Fourth Quarter and Full Year 2025 Financial ResultsFebruary 19, 2026 4:05 PM
Business Wire
Fiscal fourth quarter subscription & support revenue increased by 21%


Total revenue was $239 million, up 20% year-over-year


GAAP operating margin was 3.4%, non-GAAP operating margin was 19.1%


Fiscal year 2025 subscription & support revenue increased by 22%


Total revenue was $885 million, up 20% year-over-year


GAAP operating margin was (4.8)%, non-GAAP operating margin was 9.9%


Operating cash flow margin was 15.8%, free cash flow margin was 15.6%


Repurchased $72 million worth of Class A common stock in 2025 under the 2024 share repurchase plan


Announced increase to 2024 share repurchase plan by additional $250 million


Workiva Inc. (NYSE: WK), a leading, AI-powered platform for trust, transparency, and accountability, today announced financial results for its fourth quarter and full year ended December 31, 2025.


“We had a strong finish to the year, with accelerated growth and profitability compared to last year. Our fit-for-purpose solutions for Financial Reporting, GRC, and Sustainability continue to resonate with the office of the CFO, delivering trusted data and insights in the AI era,” said Julie Iskow, President & Chief Executive Officer. “Our Q4 performance underscores the critical relevance of our AI-powered platform in delivering trust and transparency. FY 2025 was also a year of strategic evolution that sets us up well for the long-term durable growth opportunity we see ahead of us, built on a foundation of innovation and reliability.”


“We outperformed both the top and bottom line driven by strong execution across the business. FY 2025 subscription revenue grew by 22% year-over-year, and non-GAAP operating margin was 9.9%, up from 4.3% the year prior,” said Barbara Larson, Chief Financial Officer. “I'm thrilled to have joined Workiva on the heels of an outstanding year. I look forward to partnering with Julie to drive operational excellence, focus on continued margin expansion, and execute a growth strategy that positions us to surpass one billion dollars in total revenue in 2026.”


Fourth Quarter 2025 Financial Results



Revenue: Total revenue for the fourth quarter of 2025 reached $239 million, an increase of 20% from $200 million in the fourth quarter of 2024. Subscription and support revenue contributed $219 million, up 21% versus the fourth quarter of 2024. Professional services revenue was $20 million, up slightly from the fourth quarter of 2024.



Operating Margin: GAAP operating margin for the fourth quarter of 2025 was 3.4% compared to (6.6)% in the prior year's fourth quarter. Non-GAAP operating margin was 19.1% compared to 7.4% in the fourth quarter of 2024.



GAAP Net Income (Loss): GAAP net income for the fourth quarter of 2025 was $12 million compared with a net loss of $(9) million for the prior year's fourth quarter. GAAP net income per basic share and diluted share was $0.21 and $0.20, respectively, compared with a net loss per basic and diluted share of $(0.16) in the fourth quarter of 2024.



Non-GAAP Net Income: Non-GAAP net income for the fourth quarter of 2025 was $50 million compared with non-GAAP net income of $19 million in the prior year's fourth quarter. Non-GAAP net income per basic share and diluted share in the fourth quarter of 2025 was $0.88 and $0.78, respectively, compared with non-GAAP net income per basic share and diluted share of $0.35 and $0.33, respectively, in the fourth quarter of 2024.



Liquidity: As of December 31, 2025, Workiva had cash, cash equivalents, and marketable securities totaling $892 million, compared with $816 million as of December 31, 2024. Workiva had $71 million aggregate principal amount of 1.125% convertible senior notes due in 2026, $702 million aggregate principal amount of 1.250% convertible senior notes due in 2028, and $14 million of finance lease obligations outstanding as of December 31, 2025.



Key Metrics and Recent Business Highlights



Customers: Workiva had 6,624 customers as of December 31, 2025, a net increase of 319 customers from December 31, 2024.



Retention Rate: As of December 31, 2025, Workiva's gross retention rate was 97%, and the net retention rate was 113%. Net retention includes changes in both solutions and pricing for existing customers.



Large Contracts: As of December 31, 2025, Workiva had 2,507 customers with an annual contract value (“ACV”) of more than $100,000, up 22% from 2,055 customers at December 31, 2024. Workiva had 592 customers with an ACV of more than $300,000, up 42% from 416 customers in the fourth quarter of 2024. Workiva had 248 customers with an ACV of more than $500,000, up 37% from 181 customers in the fourth quarter of 2024.



Share Repurchase Plan: On July 30, 2024, our board of directors authorized a share repurchase plan for up to $100 million of our outstanding Class A common stock. During the fourth quarter of 2025, Workiva purchased approximately 131,000 shares for $12 million under the plan. As of December 31, 2025, approximately $28 million remained available under the plan for future share repurchases. On February 16, 2026, our board of directors modified the repurchase plan to authorize an additional $250 million of the Company’s outstanding Class A common stock for repurchase under the plan.



Full Year 2025 Financial Results



Revenue: Total revenue for the full year 2025 reached $885 million, an increase of 20% from $739 million in 2024. Subscription and support revenue contributed $813 million, up 22% compared to 2024. Professional services revenue was $72 million, relatively flat compared to the prior year.



Operating Margin: GAAP operating margin for 2025 was (4.8)% compared to (10.3)% in the prior year. Non-GAAP operating margin was 9.9% compared to 4.3% in 2024.



GAAP Net Loss: GAAP net loss for 2025 was $(26) million compared with a net loss of $(55) million in the prior year. GAAP net loss per basic and diluted share was $(0.47) compared with a net loss per basic and diluted share of $(0.99) in 2024.



Non-GAAP Net Income: Non-GAAP net income for 2025 was $104 million compared with non-GAAP net income of $54 million in the prior year. Non-GAAP net income per basic share and diluted share in 2025 was $1.84 and $1.78, respectively, compared with non-GAAP net income per basic share and diluted share of $0.97 and $0.94, respectively, in 2024.



Cash Flow: Net cash provided by operating activities was $140 million in 2025, compared to cash provided by operating activities of $88 million in 2024. Free cash flow was $138 million in 2025 compared to free cash flow of $86 million in 2024. Free cash flow margin was 15.6% in 2025 compared to 11.7% in 2024.



Financial Outlook


As of February 19, 2026, Workiva is providing guidance as follows:


First Quarter 2026 Guidance:



Total revenue is expected to be in the range of $244 million to $246 million.



GAAP operating margin is expected to be in the range of 2.7% to 3.3%.



Non-GAAP operating margin is expected to be in the range of 15.5% to 16.0%.



GAAP net income per diluted share is expected to be in the range of $0.17 to $0.20 using 57.7 million shares.



Non-GAAP net income per diluted share is expected to be in the range of $0.64 to $0.67 using 63.8 million shares.



Full Year 2026 Guidance:



Total revenue is expected to be in the range of $1.036 billion to $1.040 billion.



GAAP operating margin is expected to be in the range of 2.6% to 3.2%.



Non-GAAP operating margin is expected to be in the range of 15.0% to 15.5%.



GAAP net income per diluted share is expected to be in the range of $0.70 to $0.80 using 57.8 million shares.



Non-GAAP net income per diluted share is expected to be in the range of $2.66 to $2.76 using 63.0 million shares.



Free cash flow margin is expected to be approximately 19%.



Quarterly Conference Call


Workiva will host a webcast today at 5:00 p.m. Eastern Time to review the Company’s financial results for the fourth quarter and full fiscal year 2025, in addition to discussing the Company’s outlook for the first quarter and full year 2026. The call can be accessed by dialing 1-833-630-1956 (U.S. domestic) or 1-412-317-1837 (international). Additionally, a live webcast and replay will be available at https://investor.workiva.com/news-events/events.


About Workiva


Workiva Inc. (NYSE: WK) powers trust, transparency, and accountability. Accounting, finance, sustainability, risk and audit teams from more than 6,600 organizations, including over 85% of Fortune 1,000 companies rely on Workiva for their mission-critical work. We transform how customers connect data, unify processes, and empower teams in a secure, audit-ready, AI-powered collaborative platform. Learn more at workiva.com.


Non-GAAP Financial Measures


The non-GAAP adjustments referenced herein relate to the exclusion of stock-based compensation and amortization of acquisition-related intangible assets. A reconciliation of GAAP to non-GAAP historical financial measures has been provided in Table I at the end of this press release. A reconciliation of GAAP to non-GAAP guidance has been provided in Table II at the end of this press release.


Workiva believes that the use of non-GAAP gross profit, non-GAAP income from operations and non-GAAP operating margin, non-GAAP net income, non-GAAP net income per share, free cash flow and free cash flow margin is helpful to its investors. These measures, which are referred to as non-GAAP financial measures, are not prepared in accordance with generally accepted accounting principles in the United States, or GAAP. Workiva’s management uses these non-GAAP financial measures as tools for financial and operational decision making and for evaluating Workiva’s own operating results over different periods of time.


Non-GAAP gross profit is calculated by excluding stock-based compensation expense and amortization expense for acquisition-related intangible assets attributable to cost of revenues from gross profit. Non-GAAP income from operations is calculated by excluding stock-based compensation expense and amortization expense for acquisition-related intangible assets from loss from operations. Non-GAAP operating margin is the ratio calculated by dividing non-GAAP income from operations by revenues. Non-GAAP net income is calculated by excluding stock-based compensation expense, net of tax and amortization expense for acquisition-related intangible assets from net income (loss). Non-GAAP net income per share is calculated by dividing non-GAAP net income by the weighted- average shares outstanding as presented in the calculation of GAAP net income (loss) per share. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash expenses, Workiva believes that providing non-GAAP financial measures that exclude stock-based compensation expense allows for more meaningful comparisons between its operating results from period to period. For business combinations, we generally allocate a portion of the purchase price to intangible assets. The amount of the allocation is based on estimates and assumptions made by management and is subject to amortization. The amount of purchase price allocated to intangible assets and the term of its related amortization can vary significantly and are unique to each acquisition and thus we do not believe they are reflective of ongoing operations.


Free cash flow, a non-GAAP measure, represents cash flow from operating activities less purchase of property and equipment. Free cash flow margin is calculated by dividing free cash flow by total revenue. We consider free cash flow and free cash flow margin to be liquidity measures that provide useful information to investors about the amount of cash generated or used by the business.


Non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in Workiva’s industry, as other companies in the industry may calculate non-GAAP financial results differently. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on Workiva’s reported financial results. Further, stock-based compensation expense has been and will continue to be for the foreseeable future a significant recurring expense in Workiva’s business and an important part of the compensation provided to its employees. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. Investors should review the reconciliation of non-GAAP financial measures to the comparable GAAP financial measures included below, and not rely on any single financial measure to evaluate Workiva’s business.


Forward-Looking Statements


Certain statements in this press release are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In particular, statements about the Company’s expectations, beliefs, plans, objectives, assumptions, future events or future performance contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential," "outlook," "guidance," "target," "goal," "project," "continue to," "confident," or the negative of those terms or other comparable terminology.


Please see the Company’s documents filed or to be filed with the Securities and Exchange Commission, including the Company’s annual reports filed on Form 10-K and quarterly reports on Form 10-Q, and any amendments thereto for a discussion of certain important risk factors that relate to forward-looking statements contained in this report. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company’s control. These and other important factors may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Any forward-looking statements are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.




WORKIVA INC.







 



CONSOLIDATED STATEMENTS OF OPERATIONS








(in thousands, except share and per share amounts)







 



 






Three months ended December 31,






 






Year ended December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








 






(unaudited)






 






 






 






 








Revenue






 






 






 






 






 






 






 








Subscription and support






$






219,332






 






 






$






180,897






 






 






$






812,627






 






 






$






667,646






 








Professional services






 






19,603






 






 






 






18,992






 






 






 






71,941






 






 






 






71,034






 








Total revenue






 






238,935






 






 






 






199,889






 






 






 






884,568






 






 






 






738,680






 








Cost of revenue






 






 






 






 






 






 






 








Subscription and support (1)






 






33,482






 






 






 






32,204






 






 






 






136,645






 






 






 






118,697






 








Professional services (1)






 






12,685






 






 






 






13,485






 






 






 






53,785






 






 






 






53,358






 








Total cost of revenue






 






46,167






 






 






 






45,689






 






 






 






190,430






 






 






 






172,055






 








Gross profit






 






192,768






 






 






 






154,200






 






 






 






694,138






 






 






 






566,625






 








Operating expenses






 






 






 






 






 






 






 








Research and development (1)






 






54,818






 






 






 






50,607






 






 






 






214,844






 






 






 






192,935






 








Sales and marketing (1)






 






102,049






 






 






 






90,157






 






 






 






408,872






 






 






 






347,243






 








General and administrative (1)






 






28,041






 






 






 






26,756






 






 






 






112,863






 






 






 






102,981






 








Total operating expenses






 






184,908






 






 






 






167,520






 






 






 






736,579






 






 






 






643,159






 








Income (loss) from operations






 






7,860






 






 






 






(13,320






)






 






 






(42,441






)






 






 






(76,534






)








Interest income






 






8,620






 






 






 






9,306






 






 






 






34,153






 






 






 






39,395






 








Interest expense






 






(3,193






)






 






 






(3,197






)






 






 






(12,777






)






 






 






(12,865






)








Other (expense) income, net






 






(699






)






 






 






872






 






 






 






(1,350






)






 






 






563






 








Income (loss) before provision for income taxes






 






12,588






 






 






 






(6,339






)






 






 






(22,415






)






 






 






(49,441






)








Provision for income taxes






 






772






 






 






 






2,476






 






 






 






3,754






 






 






 






5,601






 








Net income (loss)






$






11,816






 






 






$






(8,815






)






 






$






(26,169






)






 






$






(55,042






)








Net income (loss) per common share:






 






 






 






 






 






 






 








Basic






$






0.21






 






 






$






(0.16






)






 






$






(0.47






)






 






$






(0.99






)








Diluted






$






0.20






 






 






$






(0.16






)






 






$






(0.47






)






 






$






(0.99






)








Weighted-average common shares outstanding






 






 






 






 






 






 






 








Basic






 






56,503,191






 






 






 






55,739,950






 






 






 






56,272,517






 






 






 






55,355,381






 








Diluted






 






57,903,207






 






 






 






55,739,950






 






 






 






56,272,517






 






 






 






55,355,381






 







(1) Includes stock-based compensation expense as follows:




 






Three months ended December 31,






 






Year ended December 31,








 






2025






 






2024






 






2025






 






2024








 






(unaudited)






 






 






 






 








Cost of revenue






 






 






 






 






 






 






 








Subscription and support






$






2,692






 






$






2,271






 






$






10,271






 






$






7,979








Professional services






 






1,057






 






 






873






 






 






4,261






 






 






3,221








Operating expenses






 






 






 






 






 






 






 








Research and development






 






9,669






 






 






5,562






 






 






28,867






 






 






21,036








Sales and marketing






 






12,612






 






 






8,869






 






 






42,108






 






 






35,339








General and administrative






 






10,314






 






 






8,696






 






 






37,438






 






 






34,575









WORKIVA INC.







 



CONSOLIDATED BALANCE SHEETS








(in thousands)







 



 






As of December 31,








 






 






2025






 






 






 






2024






 








Assets






 






 






 








Current assets






 






 






 








Cash and cash equivalents






$






338,769






 






 






$






301,835






 








Marketable securities






 






552,852






 






 






 






514,585






 








Accounts receivable, net






 






168,984






 






 






 






148,433






 








Deferred costs






 






62,619






 






 






 






50,914






 








Other receivables






 






10,383






 






 






 






10,276






 








Prepaid expenses and other






 






28,778






 






 






 






22,199






 








Total current assets






 






1,162,385






 






 






 






1,048,242






 








Property and equipment, net






 






20,546






 






 






 






21,825






 








Operating lease right-of-use assets






 






13,986






 






 






 






11,786






 








Deferred costs, non-current






 






59,767






 






 






 






54,858






 








Goodwill






 






206,164






 






 






 






196,844






 








Intangible assets, net






 






22,270






 






 






 






27,389






 








Other assets






 






8,453






 






 






 






7,525






 








Total assets






$






1,493,571






 






 






$






1,368,469






 








Liabilities and Stockholders’ Deficit






 






 






 








Current liabilities






 






 






 








Accounts payable






$






8,932






 






 






$






7,747






 








Accrued expenses and other current liabilities






 






113,115






 






 






 






126,508






 








Deferred revenue






 






547,919






 






 






 






457,608






 








Convertible senior notes, current






 






71,072






 






 






 






—






 








Finance lease obligations






 






614






 






 






 






562






 








Total current liabilities






 






741,652






 






 






 






592,425






 








Convertible senior notes, non-current






 






696,263






 






 






 






764,891






 








Deferred revenue, non-current






 






37,305






 






 






 






29,681






 








Other long-term liabilities






 






92






 






 






 






227






 








Operating lease liabilities, non-current






 






10,472






 






 






 






9,441






 








Finance lease obligations, non-current






 






13,223






 






 






 






13,488






 








Total liabilities






 






1,499,007






 






 






 






1,410,153






 








Stockholders’ deficit






 






 






 








Common stock






 






57






 






 






 






56






 








Additional paid-in-capital






 






720,923






 






 






 






672,363






 








Accumulated deficit






 






(733,852






)






 






 






(707,683






)








Accumulated other comprehensive income (loss)






 






7,436






 






 






 






(6,420






)








Total stockholders’ deficit






 






(5,436






)






 






 






(41,684






)








Total liabilities and stockholders’ deficit






$






1,493,571






 






 






$






1,368,469






 









WORKIVA INC.







 



CONSOLIDATED STATEMENTS OF CASH FLOWS








(in thousands)







 



 






Three months ended December 31,






 






Year ended December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








 






(unaudited)






 






 






 






 








Cash flows from operating activities






 






 






 






 






 






 






 








Net income (loss)






$






11,816






 






 






$






(8,815






)






 






$






(26,169






)






 






$






(55,042






)








Adjustments to reconcile net income (loss) to net cash provided by operating activities






 






 






 






 






 






 






 








Depreciation and amortization






 






2,461






 






 






 






2,911






 






 






 






10,990






 






 






 






11,003






 








Stock-based compensation expense






 






36,344






 






 






 






26,271






 






 






 






122,945






 






 






 






102,150






 








Provision for (recovery of) doubtful accounts






 






72






 






 






 






85






 






 






 






(214






)






 






 






39






 








Accretion of premiums and discounts on marketable securities, net






 






(940






)






 






 






(2,286






)






 






 






(5,144






)






 






 






(11,829






)








Amortization of debt discount and issuance costs






 






612






 






 






 






610






 






 






 






2,444






 






 






 






2,436






 








Deferred income tax






 






(321






)






 






 






(337






)






 






 






(396






)






 






 






(629






)








Changes in assets and liabilities:






 






 






 






 






 






 






 








Accounts receivable






 






(24,357






)






 






 






(12,845






)






 






 






(17,475






)






 






 






(24,352






)








Deferred costs






 






(15,096






)






 






 






(19,337






)






 






 






(13,732






)






 






 






(34,477






)








Operating lease right-of-use assets






 






1,500






 






 






 






1,328






 






 






 






5,636






 






 






 






5,136






 








Other receivables






 






(229






)






 






 






(1,680






)






 






 






(8






)






 






 






1,116






 








Prepaid expenses and other






 






(3,162






)






 






 






(1,311






)






 






 






(6,083






)






 






 






1,453






 








Other assets






 






(1,047






)






 






 






(1,094






)






 






 






(356






)






 






 






(2,285






)








Accounts payable






 






(2,314






)






 






 






(5,231






)






 






 






651






 






 






 






2,399






 








Deferred revenue






 






55,862






 






 






 






51,681






 






 






 






88,703






 






 






 






73,840






 








Operating lease liabilities






 






(1,230






)






 






 






(907






)






 






 






(4,121






)






 






 






(3,738






)








Accrued expenses and other liabilities






 






(9,009






)






 






 






14,927






 






 






 






(17,601






)






 






 






20,486






 








Net cash provided by operating activities






 






50,962






 






 






 






43,970






 






 






 






140,070






 






 






 






87,706






 








Cash flows from investing activities






 






 






 






 






 






 






 








Purchase of property and equipment






 






(226






)






 






 






(809






)






 






 






(2,075






)






 






 






(1,363






)








Purchase of marketable securities






 






(112,221






)






 






 






(92,160






)






 






 






(425,492






)






 






 






(402,235






)








Maturities of marketable securities






 






98,771






 






 






 






106,290






 






 






 






390,473






 






 






 






452,023






 








Sale of marketable securities






 






2,533






 






 






 






—






 






 






 






2,533






 






 






 






4,609






 








Acquisitions, net of cash acquired






 






—






 






 






 






—






 






 






 






—






 






 






 






(98,092






)








Purchase of intangible assets






 






(286






)






 






 






(74






)






 






 






(391






)






 






 






(191






)








Net cash (used in) provided by investing activities






 






(11,429






)






 






 






13,247






 






 






 






(34,952






)






 






 






(45,249






)








 






 






 






 






 






 






 






 








Cash flows from financing activities






 






 






 






 






 






 






 








Proceeds from option exercises






 






3,346






 






 






 






1,044






 






 






 






6,220






 






 






 






4,909






 








Taxes paid related to net share settlements of stock-based compensation awards






 






(9,154






)






 






 






(34






)






 






 






(22,674






)






 






 






(11,458






)








Proceeds from shares issued in connection with employee stock purchase plan






 






—






 






 






 






—






 






 






 






13,698






 






 






 






13,822






 








Repurchases of Class A common stock






 






(11,507






)






 






 






—






 






 






 






(71,628






)






 






 






—






 








Principal payments on finance lease obligations






 






(142






)






 






 






(137






)






 






 






(560






)






 






 






(532






)








Net cash (used in) provided by financing activities






 






(17,457






)






 






 






873






 






 






 






(74,944






)






 






 






6,741






 








Effect of foreign exchange rates on cash






 






779






 






 






 






(4,494






)






 






 






6,957






 






 






 






(3,569






)








Net increase in cash, cash equivalents, and restricted cash






 






22,855






 






 






 






53,596






 






 






 






37,131






 






 






 






45,629






 








Cash, cash equivalents, and restricted cash at beginning of period






 






316,626






 






 






 






248,754






 






 






 






302,350






 






 






 






256,721






 








Cash, cash equivalents, and restricted cash at end of period






$






339,481






 






 






$






302,350






 






 






$






339,481






 






 






$






302,350






 









 






Three months ended December 31,






 






Year ended December 31,








 






2025






 






2024






 






2025






 






2024








 






(unaudited)






 






 






 






 








Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets






 






 






 






 






 






 






 








Cash and cash equivalents at end of period






$






338,769






 






$






301,835






 






$






338,769






 






$






301,835








Restricted cash included within prepaid expenses and other at end of period






 






712






 






 






515






 






 






712






 






 






515








Total cash, cash equivalents, and restricted cash at end of period shown in the consolidated statements of cash flows






$






339,481






 






$






302,350






 






$






339,481






 






$






302,350









TABLE I








WORKIVA INC.








RECONCILIATION OF NON-GAAP INFORMATION








(in thousands, except share and per share)







 



 






Three months ended December 31,






 






Year ended December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Gross profit, subscription and support






$






185,850






 






 






$






148,693






 






 






$






675,982






 






 






$






548,949






 








Add back: Stock-based compensation






 






2,692






 






 






 






2,271






 






 






 






10,271






 






 






 






7,979






 








Add back: Amortization of acquisition-related intangibles






 






970






 






 






 






916






 






 






 






3,771






 






 






 






1,923






 








Gross profit, subscription and support, non-GAAP






$






189,512






 






 






$






151,880






 






 






$






690,024






 






 






$






558,851






 








 






 






 






 






 






 






 






 








Gross profit, professional services






$






6,918






 






 






$






5,507






 






 






$






18,156






 






 






$






17,676






 








Add back: Stock-based compensation






 






1,057






 






 






 






873






 






 






 






4,261






 






 






 






3,221






 








Gross profit, professional services, non-GAAP






$






7,975






 






 






$






6,380






 






 






$






22,417






 






 






$






20,897






 








 






 






 






 






 






 






 






 








Gross profit






$






192,768






 






 






$






154,200






 






 






$






694,138






 






 






$






566,625






 








Add back: Stock-based compensation






 






3,749






 






 






 






3,144






 






 






 






14,532






 






 






 






11,200






 








Add back: Amortization of acquisition-related intangibles






 






970






 






 






 






916






 






 






 






3,771






 






 






 






1,923






 








Gross profit, non-GAAP






$






197,487






 






 






$






158,260






 






 






$






712,441






 






 






$






579,748






 








 






 






 






 






 






 






 






 








Cost of revenue, subscription and support






$






33,482






 






 






$






32,204






 






 






$






136,645






 






 






$






118,697






 








Less: Stock-based compensation






 






2,692






 






 






 






2,271






 






 






 






10,271






 






 






 






7,979






 








Less: Amortization of acquisition-related intangibles






 






970






 






 






 






916






 






 






 






3,771






 






 






 






1,923






 








Cost of revenue, subscription and support, non-GAAP






$






29,820






 






 






$






29,017






 






 






$






122,603






 






 






$






108,795






 








 






 






 






 






 






 






 






 








Cost of revenue, professional services






$






12,685






 






 






$






13,485






 






 






$






53,785






 






 






$






53,358






 








Less: Stock-based compensation






 






1,057






 






 






 






873






 






 






 






4,261






 






 






 






3,221






 








Cost of revenue, professional services, non-GAAP






$






11,628






 






 






$






12,612






 






 






$






49,524






 






 






$






50,137






 








 






 






 






 






 






 






 






 








Research and development






$






54,818






 






 






$






50,607






 






 






$






214,844






 






 






$






192,935






 








Less: Stock-based compensation






 






9,669






 






 






 






5,562






 






 






 






28,867






 






 






 






21,036






 








Less: Amortization of acquisition-related intangibles






 






69






 






 






 






495






 






 






 






1,279






 






 






 






2,762






 








Research and development, non-GAAP






$






45,080






 






 






$






44,550






 






 






$






184,698






 






 






$






169,137






 








 






 






 






 






 






 






 






 








Sales and marketing






$






102,049






 






 






$






90,157






 






 






$






408,872






 






 






$






347,243






 








Less: Stock-based compensation






 






12,612






 






 






 






8,869






 






 






 






42,108






 






 






 






35,339






 








Less: Amortization of acquisition-related intangibles






 






489






 






 






 






453






 






 






 






1,905






 






 






 






1,745






 








Sales and marketing, non-GAAP






$






88,948






 






 






$






80,835






 






 






$






364,859






 






 






$






310,159






 








 






 






 






 






 






 






 






 








General and administrative






$






28,041






 






 






$






26,756






 






 






$






112,863






 






 






$






102,981






 








Less: Stock-based compensation






 






10,314






 






 






 






8,696






 






 






 






37,438






 






 






 






34,575






 








General and administrative, non-GAAP






$






17,727






 






 






$






18,060






 






 






$






75,425






 






 






$






68,406






 








 






 






 






 






 






 






 






 








Income (loss) from operations






$






7,860






 






 






$






(13,320






)






 






$






(42,441






)






 






$






(76,534






)








Add back: Stock-based compensation






 






36,344






 






 






 






26,271






 






 






 






122,945






 






 






 






102,150






 








Add back: Amortization of acquisition-related intangibles






 






1,528






 






 






 






1,864






 






 






 






6,955






 






 






 






6,429






 








Income from operations, non-GAAP






$






45,732






 






 






$






14,815






 






 






$






87,459






 






 






$






32,045






 








GAAP operating margin






 






3.4






%






 






 






(6.6






)%






 






 






(4.8






)%






 






 






(10.3






)%








Non-GAAP operating margin






 






19.1






%






 






 






7.4






%






 






 






9.9






%






 






 






4.3






%








 






 






 






 






 






 






 






 








Net income (loss)






$






11,816






 






 






$






(8,815






)






 






$






(26,169






)






 






$






(55,042






)








Add back: Stock-based compensation






 






36,344






 






 






 






26,271






 






 






 






122,945






 






 






 






102,150






 








Add back: Amortization of acquisition-related intangibles






 






1,528






 






 






 






1,864






 






 






 






6,955






 






 






 






6,429






 








Net income, non-GAAP






$






49,688






 






 






$






19,320






 






 






$






103,731






 






 






$






53,537






 








 






 






 






 






 






 






 






 








Net income (loss) per basic share






$






0.21






 






 






$






(0.16






)






 






$






(0.47






)






 






$






(0.99






)








Add back: Stock-based compensation






 






0.64






 






 






 






0.48






 






 






 






2.19






 






 






 






1.84






 








Add back: Amortization of acquisition-related intangibles






 






0.03






 






 






 






0.03






 






 






 






0.12






 






 






 






0.12






 








Net income per basic share, non-GAAP






$






0.88






 






 






$






0.35






 






 






$






1.84






 






 






$






0.97






 








Net income (loss) per diluted share






$






0.20






 






 






$






(0.16






)






 






$






(0.47






)






 






$






(0.99






)








Net income per diluted share, non-GAAP






$






0.78






 






 






$






0.33






 






 






$






1.78






 






 






$






0.94






 








 






 






 






 






 






 






 






 








Weighted-average common shares outstanding - diluted






 






57,903,207






 






 






 






55,739,950






 






 






 






56,272,517






 






 






 






55,355,381






 








Weighted-average common shares outstanding - diluted, non-GAAP






 






64,035,232






 






 






 






58,305,243






 






 






 






58,295,120






 






 






 






56,687,199






 








 






 






 






 






 






 






 






 








Net cash provided by operating activities






$






50,962






 






 






 






43,970






 






 






 






140,070






 






 






 






87,706






 








Purchase of property and equipment






 






(226






)






 






 






(809






)






 






 






(2,075






)






 






 






(1,363






)








Free cash flow






$






50,736






 






 






$






43,161






 






 






$






137,995






 






 






$






86,343






 








Operating cash flow margin






 






21.3






%






 






 






22.0






%






 






 






15.8






%






 






 






11.9






%








Free cash flow margin






 






21.2






%






 






 






21.6






%






 






 






15.6






%






 






 






11.7






%









TABLE II








WORKIVA INC.








RECONCILIATION OF NON-GAAP GUIDANCE







 



 






Three months ending March 31, 2026






 






Year ending December 31, 2026








 






 






 






 






 






 






 






 








GAAP operating margin






 






2.7






%






-






 






3.3






%






 






 






2.6






%






-






 






3.2






%








Add back: Stock-based compensation






 






12.2






%






-






 






12.1






%






 






 






11.8






%






-






 






11.7






%








Add back: Amortization of acquisition-related intangibles






 






0.6






%






-






 






0.6






%






 






 






0.6






%






-






 






0.6






%








Non-GAAP operating margin






 






15.5






%






-






 






16.0






%






 






 






15.0






%






-






 






15.5






%








 






 






 






 






 






 






 






 








Net income per diluted share, GAAP






$






0.17






 






-






$






0.20






 






 






$






0.70






 






-






$






0.80






 








Add back: Stock-based compensation






 






0.51






 






-






 






0.51






 






 






 






2.11






 






-






 






2.11






 








Add back: Amortization of acquisition-related intangibles






 






0.03






 






-






 






0.03






 






 






 






0.10






 






-






 






0.10






 








Effect of potentially dilutive securities






 






(0.07






)






-






 






(0.07






)






 






 






(0.25






)






-






 






(0.25






)








Net income per diluted share, non-GAAP






$






0.64






 






-






$






0.67






 






 






$






2.66






 






-






$






2.76






 








 






 






 






 






 






 






 






 








Weighted-average common shares used in calculating GAAP earnings per share, diluted






 






57,700,000






 






 






 






57,700,000






 






 






 






57,800,000






 






 






 






57,800,000






 








Weighted-average common shares used in calculating non-GAAP earnings per share, diluted






 






63,800,000






 






 






 






63,800,000






 






 






 






63,000,000






 






 






 






63,000,000






 







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260219706699/en/
Investor Contact:

Katie White

Workiva Inc.

investor@workiva.com


Media Contact:

Bill Bode

Workiva Inc.

press@workiva.com


Original: Workiva Announces Fourth Quarter and Full Year 2025 Financial Results